2019 IPOs: Startup Firms Saw Nearly One-Third Of Total Proceeds
Last year, a total of 67 biopharma and medtech companies completed initial public offerings (IPOs), raising for $8.55bn between them.
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Nine $1bn+ alliances were penned in October. Topping the list was a potential $22bn deal between Daiichi Sankyo and Merck for the global development and commercialization of Daiichi’s DXd antibody drug conjugate candidates patritumab deruxtecan, ifinatamab deruxtecan and raludotatug deruxtecan.
During Q3, biopharma merger and acquisition deal value reached $13.6bn and drew in $36.5bn in potential deal value from alliances. Device company M&A values reached $4.3bn, while in vitro diagnostics and research tools players’ M&A activity totaled $5.8bn.
During Q3, biopharmas brought in an aggregate $23.3bn in financing and device company fundraising totaled $3.6bn; while in vitro diagnostic firms and research tools players raised $649m.